Spain: Crude Palm Oil Market Overview 2021

Crude Palm Oil Market Size in Spain

The Spanish crude palm oil market soared to $X in 2019, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. Over the period under review, the market reached the peak level in 2019 and is likely to continue growth in the immediate term.

Crude Palm Oil Exports

Exports from Spain

In 2019, the amount of crude palm oil exported from Spain contracted modestly to X tonnes, dropping by -X% on the previous year. Overall, exports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% y-o-y. As a result, exports attained the peak of X tonnes. From 2018 to 2019, the growth exports remained at a lower figure.

In value terms, crude palm oil exports dropped sharply to $X in 2019. In general, exports, however, posted a tangible expansion. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. As a result, exports attained the peak of $X. From 2018 to 2019, the growth exports failed to regain the momentum.

Exports by Country

Portugal (X tonnes) was the main destination for crude palm oil exports from Spain, accounting for a X% share of total exports. Moreover, crude palm oil exports to Portugal exceeded the volume sent to the second major destination, France (X tonnes), ninefold.

From 2007 to 2019, the average annual growth rate of volume to Portugal totaled +X%.

In value terms, Portugal ($X) remains the key foreign market for crude palm oil exports from Spain, comprising X% of total exports. The second position in the ranking was occupied by France ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Portugal totaled +X%.

Export Prices by Country

In 2019, the average crude palm oil export price amounted to $X per tonne, waning by -X% against the previous year. Over the period under review, the export price saw a slight decline. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% against the previous year. As a result, export price attained the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average export prices failed to regain the momentum.

Average prices varied noticeably for the major overseas markets. In 2019, the country with the highest price was France ($X per tonne), while the average price for exports to Portugal stood at $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to France.

Crude Palm Oil Imports

Imports into Spain

For the third year in a row, Spain recorded growth in overseas purchases of crude palm oil, which increased by X% to X tonnes in 2019. Overall, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2009 when imports increased by X% y-o-y. Over the period under review, imports attained the peak figure in 2019 and are likely to see gradual growth in the near future.

In value terms, crude palm oil imports skyrocketed to $X in 2019. In general, imports posted a resilient increase. The most prominent rate of growth was recorded in 2009 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum in 2019 and are likely to continue growth in years to come.

Imports by Country

In 2019, Indonesia (X tonnes) constituted the largest crude palm oil supplier to Spain, with a X% share of total imports. Moreover, crude palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tonnes), threefold. The third position in this ranking was occupied by Guatemala (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Indonesia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and Guatemala (+X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of crude palm oil to Spain, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports. It was followed by Guatemala, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Indonesia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and Guatemala (+X% per year).

Import Prices by Country

The average crude palm oil import price stood at $X per tonne in 2019, waning by -X% against the previous year. Over the period under review, the import price recorded a pronounced reduction. The pace of growth appeared the most rapid in 2011 an increase of X% y-o-y. As a result, import price reached the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the highest prices were recorded for prices from Indonesia ($X per tonne) and Malaysia ($X per tonne), while the price for Colombia ($X per tonne) and Honduras ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude palm oil in the world?

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Indonesia (36M tonnes) remains the largest crude palm oil consuming country worldwide, comprising approx. 46% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia (17M tonnes), twofold. India (6.6M tonnes) ranked third in terms of total consumption with a 8.5% share.

What are the largest producers of crude palm oil in the world?

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Indonesia (44M tonnes) constituted the country with the largest volume of crude palm oil production, accounting for 58% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (20M tonnes), twofold. The third position in this ranking was occupied by Thailand (3M tonnes), with a 4% share.

What are the leading suppliers of crude palm oil to Spain?

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In value terms, Indonesia ($425M) constituted the largest supplier of crude palm oil to Spain, comprising 54% of total imports. The second position in the ranking was occupied by Malaysia ($148M), with a 19% share of total imports. It was followed by Guatemala, with a 9.4% share.

What are the leading importers of crude palm oil from Spain?

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In value terms, Portugal ($5.2M) remains the key foreign market for crude palm oil exports from Spain, comprising 85% of total exports. The second position in the ranking was occupied by France ($637K), with a 10% share of total exports.

What is the average export price for crude palm oil in Spain?

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In 2019, the average crude palm oil export price amounted to $666 per tonne, waning by -13.7% against the previous year.

What is the average import price for crude palm oil in Spain?

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The average crude palm oil import price stood at $516 per tonne in 2019, dropping by -21% against the previous year.